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Supervielle adds MODO to its mobile apps

Customers will be able to send or receive money via instant transfers from the mobile phonebook, or make payments with a QR code

The clients Supervielle can now work with MODO through the Supervielle mobile app y Supervielle pensionersand they can use this digital payment solution, directly from the Supervielle applications, providing more agility and simplicity and in a secure way.

With this accessioncustomers will be able to send or receive money through instant transfers from, or payments from, the mobile phone book QR codes in physical stores, maintaining current promotions or discounts.

In this way, no further details are required as CBU or alias, but now there is a new way to send money easily and at no cost.

In addition, once the operation is completed, the user receives a confirmation notification by application WhatsApp.

How it works

This new functionality is extremely easy to use: once inside the Supervielle app, select the option “Work with MODE“, then select the contact from your address book to whom you want to send the money. In case it does not appear to be available WAY in the Supervielle apps, check that the latest version is updated.

The war of the titans

2020 ended with one of the most important launches setting a unique precedent for cooperation in the country. WAYthe new payment solution with over 35 public, private and co-operative banks. Today, the app celebrates its first major milestone: more than 1,000,000 users You can already enjoy the benefits of saying goodbye to cash.

Con WAYusers can send and receive money, and pay by QR code in participating stores nationwide. In this way, the new comprehensive payment solution for banking argentinalets you do everything from your mobile phone in a safe, practical, convenient and free way.

Mercado Libre is very clear about his part main purpose on the Argentina for the year 2021: not to give a truce to his new and great rival.

concretely, do not give even an inch of space for growth WAY, an an app jointly promoted by thirty banksplacesincluding the more important of the country, including Santander, Galicia, BBVA, Macro, HSBC, ICBC, Supervielle, Hipotecario and Banco Nationamong many others.

seo, within the framework of evolution and consolidation of the two major winning sectors of coronary crisis: e-commerce and industry fintech: by allowing “remote” purchases and payments, they are developing unhindered, in a pandemic-affected global economy.

So that is not surprising Mercado Libre grew like any other company: Not only its shares tripled on Wall Street since the introduction of globalization policies, but also its valuation is close to 100,000 million dollars.

In the digital payment method section, for the company ordered by Galperin he came up WAYas a weight competitor. And the QR code that is the unicorn “firsted” everyone on albiceleste soil, today also available by others fintech and banks.

As if that were not enough, the competition promises to go deeper with Transitions 3.0the platform Interoperable QR launched by the Central Bank don mobile cash payments

competitors

According to minsait figures, an Argentina It is the country where the use of digital wallets has increased the most among the bank population: almost 70% of the population it did more operations with these apps in 2020 (and half of the transactions were done with QR Codes).

Due to the exponential growth of transaction media and the almost full visibility of Mercado Pago, many other wallets began their adventure in the digital money market.

The most ambitious bet is that WAYassociated with Play Digital – a consortium of around thirty public, private and co – operative banks – which approves manage all accounts and cards in the same app users in the participating entities.

Martin Kelly, economist and director of EPyCA Consultoresconfirms that iProUP that the Galperin company found a niche not occupied by any bank or any other fintech.

“It’s the most used payment method to date and has more users than all bank apps. MODO, comes with other features and services to dispute a place as transaction and payment platform“.

While they all claim to be virtual wallets, they are different from each other, their proposed business model is different. According to Kalos:

  • In Mercado Pago it goes by paying via QR, sending money, always from a bille related financing or other virtual banking »
  • “On the other hand, MODO unifies the accounts and payment methods of all associated entities in one interface and also allows payment by QR”

The IS a very ambitious and aggressive bank joint bet in terms of competition, since – unlike Mercado Pago– are not intermediaries:

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